FLEX LNG to Undertake Private Placement of US$170 New Equity

FLEX LNG intends to undertake a private placement of up to USDm 170 of new equity. The purpose of the placement is to finance the second yard instalment for the company’s first two floating LNG Producers. The proceeds of the placement would also allow the company to grow the fleet beyond the existing two firm vessels.

Of the total USDm 170 equity private placement, existing shareholders hold warrants which if exercised in full will raise USDm 50. The Company has engaged Pareto Securities ASA and SEB Enskilda ASA as Joint Lead Managers in the possible private placement, and Arctic Securities ASA as Co-Manager.